In June last year, Novomatic took the first steps to acquire a controlling stake in Ainsworth Game. At that time the latter’s shareholders nodded the sale of 52.2 percent of company founder Len Ainsworth’s shares to Novomatic.

In a press release on Thursday, Novomatic chairman and chief executive, Harald Neumann, said that the two companies “have not only significantly realised the head of terms, but also the strategic planning for their shared future once Novomatic becomes the majority shareholder of Ainsworth Game”.

The press release said that Mr Neumann is expected to join the board of Ainsworth Game in February.

Both companies are currently undergoing the required cross-jurisdictional gaming licensing approvals before completion of the acquisition later this year.

Danny Gladstone, chief executive of Ainsworth Game, was quoted in the press release as saying that the cooperation with Novomatic “is working very well”. “Our respective game design departments continue to work hard on the exchange of game assets to successfully integrate Novomatic’s successful games onto our platforms and vice versa,” added Mr Gladstone.

"We are building momentum and continuing to grow our business while at the same time operating more efficiently"Barry CottleChief executive and president of casino equipment maker and lottery services supplier Scientific Games